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QUANTRAX ENJOYS A VERY PRODUCTIVE ACA CONVENTION

Quantrax was at the recently concluded Annual ACA Convention in Denver. Represented by Mark Namba and Ranjan Dharmaraja, they met with their clients, and had a chance to introduce their technology to several attendees. There was a great deal of interest in the new Mobile Suite. The acquisition of Columbia Ultimate by Ontario Systems was by far the most discussed topic.

It was clear that there was less concern and apprehension within the industry, compared to prior years. Companies seem to have accepted that the present regulations are here to stay, at least for the foreseeable future. The reluctance to invest in technology, seems to have changed. This is very positive for technology vendors who have waited patiently for the investment climate to change. The real cost of aging collection software seemed to be better understood by many of the attendees who were either owners or decision-makers. The interest in […]

 

Why the traditional collection agency will struggle in the next 3 years

Look around you and remember. Look at yourself. If you are over 50, you probably remember communicating with friends overseas, using air mail. Today the post office has seen e-mail wipe out the overseas mail business. Travel agencies were replaced by web-based ticketing options. You can listen to and buy the latest music without ever leaving your home. The New York City taxicab medallion has lost half its million dollar value to the competition offered by Uber and related businesses. Add cell phones that have replaced digital cameras, music players, video recorders and GPS’s and you have a long list of products and jobs that have been ruthlessly displaced by software that is exponentially increasing productivity.

The collection industry has been a labor-intense business for the last 30 years. You have to locate people and talk to them on the phone. While we say we are automated and used modern […]

 

VOIP PHONE IDENTIFICATION

We have been asked some questions about the identification of VOIP numbers. Some of our clients are concerned about VOIP numbers being treated like cell phones because consumers may incur charges for calls to this numbers. We have worked with several knowledgeable individuals to stay on top of cell phone number assignment and some of the related industry issues. One of the people I have a great deal of respect for is John Schaeffer, the CIO of Interactive Data, the company that has provided many of our clients with their cell phone data. When I asked for his opinion on VOIP phones numbers, this is what John told me.

“We have received numerous requests over the years to provide VOIP identification much like the current cell suppression offered through the Quantrax platform. From a telephony perspective, a VOIP line is considered a landline. I’ve been trying to deliver a VOIP […]

 

You can’t build the collection agency of tomorrow on the system of yesterday

Why did most of the major software providers begin to develop new software products about 5 years ago? Why are the same companies being sold or merged at an alarming pace? The answer is that they are all sitting on an infrastructure that is outdated and it is easier to start over rather than build on the strong foundation they created or excuse me, they did not create.
These systems were built to present screens with specific data to workers in the collection industry, so calls, letters and paperwork could be completed. I was a debt collector when the industry switched from ledger cards to computers and it was built to bring the data from the ledger card to the screen and nothing else. Well, most of the systems since then have accomplished the same thing – Get the account details on the screen and let the agent make the […]

 

QUANTRAX CORPORATION ANNOUNCES THE APPOINTMENT OF MARK NAMBA AS DIRECTOR OF BUSINESS DEVELOPMENT

Quantrax Corp. would like to introduce Mark Namba as Director of Business Development and Strategic Analytics. As the collection industry looks for the right technology to carry it into the next era, “Quantrax is well positioned to be the software of choice for the future, and the addition of Mark Namba is just another piece of the puzzle” stated Quantrax owner Ranjan Dharmaraja.

Mark’s background has clearly demonstrated his ability to create market penetration, segmentation strategies, forecasting and close ratio improvement strategies. Mark will be in charge of all current marketing activities as well as creating new sales and distribution strategies and channels. “I have been watching the industry turmoil and seeing Quantrax’s proactive responses to today’s and tomorrow’s challenges made me want to be part of the future of debt collection.” Mark Namba stated with excitement.

For the last 10 years Mark was Regional Sales Manager for Enghouse Interactive (IAT […]

 

What kind of leader are you most like Captain Kirk, Richie Cunningham or Archie Bunker?

Archie Bunker from the 70’s sitcom “All in the Family” was known for not accepting change easily. He preferred to stay in his own world, even though the world was passing him by.

“If everything is good in the henhouse you don’t have to go out for eggs”.

He was fine watching the changes around him while trying as hard as possible to ignore them.

“He’s got some grand strategy that he can’t revulge.”

If you are like Archie as a CEO, then you are going to have some issues in the future as the industry continues to become more complex. As you add regulations and client restrictions to today’s intricate collection process you will need better tools, better people and better processes. If you are like Archie Bunker and not so willing to embrace technology and new ways of doing business, it is very likely that you will be left behind.

Maybe you are a […]

 

I remember when collections was simple. By Phillip W. Duff

Collections processes used to be simple but actual debt collections was not easy here is a great example of a payment process in the 80’s; The debtor, yes they were called debtors back then, agreed to send you 12 postdated checks for $56.11 each to pay his Shell Oil bill. You talked to him at his work so he had to go home to get the checkbook and write out 12 checks dated one month apart. Then since you created such a sense of urgency in getting the payment ASAP he goes to the Greyhound bus station with the checks. Remember this is before FED Ex, UPS, Express mail…

The debtor sends the 12 checks on Greyhound Package Express and it arrives 2 days later at our local Greyhound station for pick up after transferring from bus to bus. The collection manager drives to the bus station daily to pick up our […]